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我的直播即将于 2022-09-26 19:30:00 开始，欢迎围观！

新交所和 EquitiesTracker 举办的新加坡股市交易节上半场刚刚在周末结束。来自 New Academy of Finance 的 Royston 和我上台分享了关于 2022 年的 6 个交易思路。我们从估值、股息和发展势头三个角度各自分享了一个思路。再次声明， 这些只是思路，并不是投资建议。如果您有兴趣，可以进一步探索。Royston 分享了$胜科工业有限公司 (U96.SI)$ 胜科工业 (U96)，表示在剥离胜科海事、转向更环保的 ESG 方向发展后，重组的胜科工业更受机构投资者青睐。此外，$腾飞瑞资房地产投资信托基金 (A17U.SI)$ 腾飞瑞资 (A17U) 作为一只蓝筹房地产投资信托基金，收益率超 5％，拥有数据中心和商业空间等新经济资产，颇具吸引力。发展势头方面，他看好涨势强劲的 The Hour Glass (AGS)。新加坡开放边境后，游客增多，推升门店消费，进一步助长其势头。对此，我则看好$天然煤矿集团 (RE4.SI)$ GeoEnergy (RE4)。这家印尼煤矿公司得益于煤炭价格上涨（较一年前翻了 4 倍）以及对中国出口的增加（澳大利亚与中国贸易关系紧张，停止向其出口煤炭），发展势头正盛。股息方面，我则看好$升菘集团有限公司 (OV8.SI)$ 升菘 (OV8)。升菘是新加坡仅次于职总平价合作社 (NTUC Fairprice) 和 Dairy Farm 的第三大连锁超市。但 Dairy Farm 在削减股息，因此提高股息的升菘表现更优。作为必需消费品股票，增加的成本可能会转嫁给消费者，因此易受通货膨胀影响。当前股息收益率为 4.1%，略高于 5 年平均水平 3.9%。随着股息增长，预计成本收益率将随着时间的推移而增加。最后，在估值方面，我看好$云顶新加坡有限公司 (G13.SI)$ 云顶新加坡 (G13)，并预计它将成为新

1. Special Purpose Acquisition Company (SPAC) has been around for decades but only grown in popularity in recent years. The SPAC fever has died down in the US after a crazy run up in early 2021 and Singapore are now launching the first batch of SPACs on SGX.2. Why SPACs and why now? The economy is undergoing a restructuring - it is becoming more tech-driven and increasingly powered by intangible assets. Singapore have been a hotbed of tech startups but they are not listed on the SGX.3. SGX has lost a couple of big name tech companies who chose to list in overseas markets to tap a wider investor base. For e.g. Sea and Razer. PropertyGuru is merging with a SPAC in the US.4. It is a catch-22 situation whereby if SGX does not have big name listings, it would not be able to attract investors. B

1. I was interviewed on MoneyFM 89.3 this morning about the recent big news involving $IFAST CORPORATION LTD.(AIY.SI)$ iFAST acquiring a digital bank, BFC Bank. I'll repeat some key points here if you are following this development. Link to listen to the interview: https://omny.fm/shows/moneyfm-morning-show/companies-to-watch-ifast-to-obtain-a-banking-licen2. First of all, give some credit to iFAST for taking a big step to becoming a global company. This is the first time iFAST ventured out of Asia and getting a foothold in the UK. It is rare for a Singapore company to go global. Of course, a lot more has to be done to be truly global but who says we can't celebrate every milestone along the way?3. An interesting question asked

1. $DBS GROUP HOLDINGS LTD(D05.SI)$ DBS was hovering near $30 for several months before it broke through it convincingly to $35 currently. What is causing such a strong surge?2. I believe the key reason is the looming rising interest rates. We have experienced numerous talks about this but what makes this time different? Inflation. Despite printing money for the last 13 years, inflation has not crept up until Covid did us a favour to disrupt the supply chain. It became a catalyst for inflation to rise.3. Raising interest rate is almost a sure thing now to curb inflation. The macro environment took a 180 degree turn and banks will benefit from this because their net inter

$1. High growth tech stocks have taken a beating like never before. Compared to the last correction in Feb-Mar 2021, this correction that started in Nov 2021 is deeper than that. Momentum has suggested these trends have been broken and momentum is now on the other direction. $ARK Innovation ETF(ARKK)$ ARK Innovation ETF, as a representative of high growth tech stocks, is down 16% in the last one month while Energy Select SPDR ETF gained 6% in the same period.2. This is likely due to the interest rate increment that is looming and growth stocks' reliance on future value will be worth much less today. On the other hand traditional sectors such as energy, industrials and materials are coming up as they benefit from rising prices.3.

1. Munger almost doubled $Daily Journal(DJCO)$ DailyJournal's investment in $Alibaba(BABA)$ $Alibaba(09988)$ Alibaba based on the latest disclosure. Alibaba is now 28% of Daily Corp's portfolio value. This is one big bet on probably the most targeted company in China right now. Opinions were split if this was a right move among the investors.2. Why did Munger believe in China to such a degree? There could be a few reasons.3. First, Chinese culture aligns with his view of life. He gave an interview with Hong Zhou Kan in 2018 and he shared that Warren Buffett and him, act with Confucian values. Come to think of

1. Just not long ago$TENCENT(00700)$ Tencent announced it was divesting JD and it caused JD share price to tank. Yesterday, Tencent sold $3b worth of$Sea Ltd(SE)$ Sea shares at $208 each. Sea share price dropped 11.4% to $197.84.2. Tencent's stake in Sea has declined from 21.3% to 18.7% after the sale. Tencent will be restricted to sell Sea shares during the next six months. But I believe the divestment will continue thereafter, adding more selling pressure Sea shares.3. This means that Tencent can raise another US$20.52 billion if it eventually divest everything at today Sea's market cap.4. With the current $3b sale in Sea and $16.4b sale in JD.com, Tencent is sitting o

1. $腾讯控股(00700)$ 向股东派发$京东集团-SW(09618)$ 股票。每持有21股腾讯股份可获1股京东股份。2. 考虑到这个比率以及京东股价 279.20 港元和腾讯股价 443 港元，股息收益率约为 3%。3. 如果您持有的股份不是 21 股的倍数，您将收到现金。4. 因腾讯股份由券​​商托管，境外股东还是有可能获得股份。券​​商将获得的股份转入客户账户。如果您不想拥有京东股票，您可以将其出售以换取现金。5. 但最好与您的券​​商核实。他们将如何处理零碎股？不同的券​​商可能有不同的做法。6. 除息日已定为 2022 年 1 月 20 日。您必须持有腾讯股票至该日期才能符合资格。7. 京东股票可在美版和港版之间互换。但根据美国证券法，在分配的前 40 天内，您不得在美国境内或向美国人发行、出售、质押或以其他方式转让京东股票。8. 如果您在中国境内并使用滬港通及深港通买卖港股，您可以持有或出售京东股票，但不能购买。9. 腾讯认为，京东已经强大能独立了而现在是退出投资的时机。10. 如果是这样，考虑到腾讯的庞大投资组合，股东可能会继续收到其他公司的实物股息。11.我预计股东有机会获得特斯拉、美团、Sea、拼多多、快手和腾讯音乐的股份，因为这些公司的规模够大了。12. 这意味着腾讯股东可能不需要等待腾讯股价回升。如果红利持续下去，您的资产自然会增加。这本身就是一个价值解锁事件，因为腾讯的投资组合没有被市场充分估值。

1. 在大型科技 MAMAA 股票中，Facebook $Meta Platforms(FB)$ 最惹人讨厌。政府喜欢起诉它，人们喜欢批评它，而竞争对手喜欢攻击它。现在，Facebook 被评为雅虎调查最糟公司！2. 尽管如此，Facebook 是世上人口最多的地方，每月有 28.9 亿活跃用户。代价就是要承受批评。3. 讨厌Facebook的原因自相矛盾。一群人抱怨审查制度太多，言论自由受到阻碍。另一个组指责 Facebook 对不良内容的监管不足。拥有 28.9 亿活跃用户，意见分歧的机率太大。用户越大责任越大。4. 作为投资者和企业家，我喜欢 Facebook。它有一个强大的商业模式，它以用户的注意力创造数十亿美元。在数字广告开始发挥作用之前，媒体曾经拥有这种权力。最大的区别是规模。报纸、广播和电视通常受地域限制。而谷歌和 Facebook 则不然。5. 中小型企业，尤其是 B2C 企业，可能非常依赖 Facebook 得取客户。超过 1000 万家企业（以 26% 的复合年增长率增长）积极在 Facebook 上投放广告。它不依赖于少数广告商。6. 有人说 Facebook 面临许多竞争者。我认为真正的竞争对手是谷歌，因为它在搜索领域和 YouTube 占据主导地位。 Facebook 过去已经展示了其抵御新竞争对手的能力。它在受到威胁时收购了 Instagram。 WhatsApp 也是如此。 Snap 拒绝出售，Instagram 复制了“故事”。现在大家都在抄TikTok的短视频。 Twitter、Reddit、Discord 和规模较小的竞争者都难以产生大量广告收入。7. 那我们应投资一个受讨厌的公司或对社会”不良“的公司吗？如果您根据对社会